Infotech posts PAT of US Dollar 6.18 million

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Hyderabad, Oct 17 (UNI) Infotech Enterprises Limited registered a Profit After Tax (PAT) of US Dollar 6.18 million in the second quarter of this fiscal.

According to a company release here, the revenue grew to US Dollar 39.42 million in Q2 compared to US Dollar 36.13 million in Q1.

''In the quarter, we have delivered a robust 9.1 per cent sequential growth and 38 per cent y-o-y growth in revenue terms. The net margin has improved by 97 per cent sequentially and 40 per cent y-o-y,'' the release said.

''During the quarter, we have been recognised as a gold site by our major customer Pratt and Whitney. We have entered into strategic partnership with continental Data Graphics, a subsidiary of the Boeing company. These are likely to witness strong growth momentum across our business operations.'' ''With the help of exposure in various currencies we believe that the margins are not likely to be impacted significantly any further,'' it said, adding that ''going forward, we expect to continue delivering significant growth on the back of increased order intake which is quite strong and visible in both the verticals''.

During the quarter, the company allotted 4,417,277 equity shares of Rs five each at a premium of Rs 355 and 2,724,000 compulsorily convertible preference shares of Rs 360 per share to GA Global Investment Limited, Cyprus. The company also allotted 1,166,420 equity shares of Rs five each at a premimum of Rs 355 to Carrier International, Mauritius.

UNI

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